TOKYO, July 1 ― Tokyo's benchmark Nikkei index closed down for a fourth consecutive session today as tech shares faced selling pressure, while investors awaited key US economic data due later this week.
The Nikkei 225 index slid 0.29 per cent, or 84.49 points, to 28,707.04, while the broader Topix index fell 0.22 per cent, or 4.36 points, to 1,939.21.
“Many high-tech shares declined, tracking a fall in the Nasdaq,” said Daiwa Securities chief technical analyst Eiji Kinouchi.
“But today's tech decline appears temporary,” he told AFP, adding: “Concerns over a possible slowdown in vaccinations are also weighing on market sentiment.”
New applications for Covid-19 vaccine doses to be administered at workplaces and universities will remain suspended after stronger-than-expected demand raised supply fears.
Trading was sluggish as investors took a wait-and-see attitude approach ahead of US unemployment figures that are released tomorrow, brokers said.
The dollar fetched ¥111.15 (RM4.15) in Asian afternoon trade against ¥111.11 in New York yesterday.
In Tokyo, the Bank of Japan's Tankan business survey showed that confidence among major manufacturers hit the highest level since 2018.
The quarterly poll of about 10,000 companies showed a reading of plus 14 among big manufacturers, up from plus five in the previous quarter.
Among falling tech firms Advantest, which produces testing kits for semiconductors, dropped 1.79 per cent to ¥9,830 as Renesus fell 1.99 per cent to ¥1,177.
SoftBank Group lost 0.63 per cent to ¥7,726 but Sony gained 1.15 per cent to ¥10,940.
Nissan fell 0.63 per cent to ¥547.8. Following the closing bell, the firm announced plans to build Britain's first car-battery “gigafactory” adjacent to its Sunderland facility. ― AFP
Source: Malay Mail
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